Buying competitive car insurance for a Chevrolet Traverse in Colorado doesn’t take too much effort, but it depends on lots of different rating factors such as the safety rating for your Traverse, your credit status, and the level of deductible you choose. Drivers in Colorado will pay on average $1,193 a year for Traverse insurance, but that amount is based upon a 40-year-old single male driver with both comprehensive and collision coverage and $100 deductibles.
This brings up the issue that more than likely you are not 40 years old and maybe not even male, maybe you are married instead of single, and maybe you have sub-par credit that needs to be factored in. Have just a small change in the factors used in pricing a policy can result in a large change in the cost of insurance for a Chevrolet Traverse.
Not everyone needs the same coverages, so the best way to find the cheapest insurance price for your Chevrolet is to put in the effort to do a thorough rate comparison. Get a free quote now and you will be able to see rates from some of the best insurers around.
Your vehicle’s trim level can impact the yearly cost, so the price you will be charged to insure a Traverse LS 2WD model will cost $150 less than the price to insure the higher-priced Traverse LTZ AWD trim level, as demonstrated by the prices below.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Traverse LS 2WD | $296 | $516 | $362 | $22 | $108 | $1,304 | $109 |
| Traverse LS AWD | $334 | $516 | $362 | $22 | $108 | $1,342 | $112 |
| Traverse LT 2WD | $334 | $516 | $362 | $22 | $108 | $1,342 | $112 |
| Traverse LT AWD | $334 | $628 | $362 | $22 | $108 | $1,454 | $121 |
| Traverse LTZ 2WD | $334 | $628 | $362 | $22 | $108 | $1,454 | $121 |
| Traverse LTZ AWD | $334 | $628 | $362 | $22 | $108 | $1,454 | $121 |
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Above prices assume single male driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Colorado minimum liability limits. Discounts applied include claim-free, multi-vehicle, multi-policy, homeowner, and safe-driver. Price information does not factor in specific zip code location which can increase or decrease auto insurance rates significantly.
Finding dependable, budget auto insurance is easier said than done, and figuring out which companies have the cheapest auto insurance rates for a Chevrolet Traverse takes even more perseverance. Every insurance provider has their own formula to set their prices, so to begin we’ll rank the lowest cost auto insurance companies in Colorado.
We do need to point out that Colorado auto insurance rates are impacted by many things that may substantially change the price you have to pay for coverage. Price variation is why it is so important to shop around with many companies when trying to get the most economical insurance rates for a Chevrolet Traverse. Car insurance prices are made up of many things and can increase or decrease at any time, so the most affordable company when you bought your policy may now cost much more than other companies.
Find Cheaper Auto Insurance for Your Chevy
The Hartford may have some of the most affordable car insurance rates in Aurora at around $825 per year. Grange, USAA, Nationwide, and Auto-Owners also make the cut as some of the cheapest Aurora, CO insurance companies.
As shown in the table above, if you currently have coverage with Nationwide and switched to Grange, you could see an annual premium reduction of about $185. Customers with Auto-Owners may save as much as $198 a year, and GEICO customers might lower prices by $218 a year.
These prices are averaged across all ages of drivers and types of vehicles and and are not figured with a specific vehicle garaging location for a Chevrolet Traverse. So the company that can offer the best rates for your situation may not even be in the top 21 companies in the list above. That underscores the importance of why you need to quote rates from many companies using your own specific driver and vehicle information.
The information below illustrates how your choice of deductibles can change insurance costs when quoting cheap insurance for a Chevrolet Traverse. The premiums assume a single female driver, full physical damage coverage, and no discounts are applied to the premium.
In the chart above, a 50-year-old driver could pocket $290 a year by switching their comprehensive and collision coverages from a $100 deductible to a $500 deductible, or save $440 by switching to a $1,000 deductible. Youthful drivers, like the Age 20 chart data, could drop their prices as much as $728 or even more by using higher deductibles when buying full coverage. If you make the decision to raise deductibles, it will now be necessary to have plenty of discretionary funds to pay the extra out-of-pocket expense. That is the one drawback of using higher deductibles.
Does it make sense to buy full coverage?
Paying less for auto insurance is probably important to most vehicle owners, and one common way to pay less for insurance for a Chevrolet Traverse is to buy only liability coverage. The chart below illustrates the comparison of insurance premiums with full physical damage coverage compared to only buying the minimum liability limits required in Colorado. Data assumes no violations or accidents, $100 deductibles, drivers are not married, and no discounts are applied.
Averaged for all age groups, comp and collision coverage costs $2,289 per year more than insuring for liability only. Many of you may wonder if you should buy full coverage at all. There is no set guideline to eliminate comp and collision coverage, but there is a general convention. If the yearly cost of comp and collision coverage is more than around 10% of the replacement cost of your vehicle minus the policy deductible, then it could be time to drop full coverage.
There are some cases where dropping full coverage is not a good idea. If you have an outstanding loan on your vehicle, you have to carry full coverage to satisfy the loan requirements. Also, if you cannot afford to purchase a different vehicle if your current one is in an accident, you should maintain full coverage.
Don’t make the mistake of not shopping around
Colorado auto insurance rates are influenced by many factors which can substantially change the price you have to pay. Simply getting older, buying another vehicle, or getting a ticket for running a stop sign can trigger changes in premium that can make some companies cheaper than others.
Also, car insurance companies file new rates as needed in order to protect their financial rating. Higher than normal claim frequency or severity may result in rate hikes, while lower claims can produce more affordable Traverse insurance rates.
To illustrate this point, the graph below shows rates for the cheapest car insurance in Aurora, CO for a 35-year-old female driver with no accidents, a clean driving record, and good credit. If we look at prices based on her current rating profile, The Hartford might quote the best car insurance rates in Aurora at $1,042 per year. This is $536 less than the average rate paid by Colorado drivers of $1,578. Grange, USAA, GEICO, and Nationwide are the remaining cheapest Aurora, CO auto insurance companies.
In this example, we will give the driver in the first chart some claims, a lower credit rating, and an imperfect driving record. Because every insurance company uses their own method to set policy rates, getting updated rate quotes may now present a different ranking of the cheapest car insurance companies in Aurora as shown below.
Travelers now has the best price on car insurance in Aurora, CO with State Farm, American Family, Progressive, and Amica also being competitive. This shows why Aurora drivers need to spend some time comparing rates when trying to get the best insurance rates for a Chevrolet Traverse.
Rates can be altered by many things and can decrease or increase without notice, so the cheapest rate three years ago may now be quite expensive.
How to find the cheapest car insurance for a Chevrolet Traverse
Below you’ll find a few money-saving solutions that can help you quote low-cost coverage.
- Violations like speeding or DUI increase rates
- Safe vehicles cost less to insure
- Higher credit ratings may save you money
- Drop full coverage on older vehicles
- Prevent rate increases by staying accident-free
- Raise physical damage deductibles
- Keep rates low by comparing prices once a year
The last item on the list is very crucial, as was emphasized in the article above. Coverage rates fluctuate considerably, so drivers shouldn’t hesitate to buy a policy from a new company if a lower price can be found.
Loyalty to a specific company is fine, but it isn’t a good idea if that stubbornness costs you a lot of money every month. Take a few minutes and shop around to find cheaper auto insurance for a Chevrolet Traverse in Aurora.